59-10-1103. Tax credit for pass-through entity taxpayer.
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Effective 3/23/2022
59-10-1103. Tax credit for pass-through entity taxpayer.
(1)As used in this section:
(a)"Pass-through entity" means the same as that term is defined in Section 59-10-1402 .
(b)"Pass-through entity taxpayer" means the same as that term is defined in Section 59-10-1402 .
(2)A pass-through entity taxpayer may claim a refundable tax credit against the tax otherwise due under this chapter if that pass-through entity taxpayer is a:
(a)claimant;
(b)estate; or
(c)trust.
(3)The tax credit described in Subsection
(2)is equal to the amount paid or withheld by the pass-through entity on behalf of the pass-through entity taxpayer described in Subsection
(2)in accordance with Section 59-10-1403.2 , other than a tax described in Subsection 59-10-1403.2(2) .
(4)A pass-through entity taxpayer may not claim a tax credit under this section for an amount for which the pass-through entity taxpayer claims a tax credit under Section 59-7-614.4 .
Amended by Chapter 238 , 2022 General Session